Chapter 5 Vocab

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Across
  1. 8. functions like a business but uses the money it makes to fund the cause identified in its charter
  2. 9. a word, name, symbol, sound, or color that identifies a good or service
  3. 14. the discipline that keeps track of a company's financial situation
  4. 15. consists of a group of establishments primarily engaged in producing or handling the same product or group of products
  5. 16. businesses choose to compete on the basis of factors that aren't related to price; factors include quality of the products, service, financing, business location and reputation
  6. 17. based on the demand for consumer goods and services
  7. 22. a business that sells its products only in its own country
  8. 24. exclusive control over a product or the means of producing it
  9. 25. government-financed agencies
  10. 26. risk the potential for loss or failure
Down
  1. 1. seeks to make a profit from its operations
  2. 2. the process of creating, growing, manufacturing, or improving on goods and services
  3. 3. involves anything that is authored by and individual such as writings, music, and artwork
  4. 4. buy goods from wholesalers or directly from manufacturerers and resell them to the consumer
  5. 5. the function of business that involves money management
  6. 6. business that sells its products in more than one country
  7. 7. business ownership by ordinary people, not the government(free enterprise)
  8. 10. the process of achieving company goals by effective use of resources through planning, organizing and controlling
  9. 11. businesses not associated with government agencies
  10. 12. gives you alone own the rights to that item or idea
  11. 13. focuses on the sale price of a product and assumes that, all other things being equal, consumers will buy the products lowest in price
  12. 18. refers to consumer willingness and the ability to buy products
  13. 19. the money earned from conducting business after all costs and expenses have been paid
  14. 20. obtain goods from manufacturers and resell them to organizational users, other wholesalers, or retailers(also called distributers)
  15. 21. an essential part of the free enterprise system that forces businesses to produce better-quality goods and services at reasonable prices
  16. 23. the amount of goods producers are willing to make and sell